Apollo Tyres enters Saudi Arabia through tie-up with Al Jomaih Tyres

Apollo Tyres Ltd, plan to enter Saudi Arabia through a tie-up with Al-Jomaih Tyres Company Limited. The company is aiming at the large and growing truck-bus radial and passenger car tyre market, looking to obtain a sizeable market share, in each of the segments, in the next couple of years.

"The entry into the Kingdom of Saudi Arabia is the culmination of a long-term product planning and development programme. We are now ready with products suited to cater to the Saudi market, which is the largest and important replacement tyre market in the Middle East region," said Mr Shubhro Ghosh, group head ASEAN, Middle East & Africa of Apollo Tyres.

"Saudi Arabia has a market potential of approximately 22 million tyres, and we have set a very aggressive target for ourselves, of selling nearly 800,000 tyres per annum, including both commercial vehicle and passenger vehicle tyres, within the next five years", he added.

Mr Sheikh Abdullah Al-Jomaih, CEO, Al-Jomaih Tyres, said: "We have noticed that the premium tier 2 market in Saudi has been expanding at a fast pace and Apollo Tyres meets the need of local customers who are seeking quality products at competitive prices."

The tyres sold in Saudi Arabia would be modified according to the demand of the local market and would be covered under a 5-year warranty from the date of manufacturing. 

Apollo Tyres had set-up its hub for the Middle East and Africa region, in Dubai, in 2011.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.